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Bloomberg
Dec 5, 2013 3:00am EST
it has been the first time in a number of years. talk about a deficit. we will see if we have anything that has not been leaked to the market. we have a statement and there is a bit in this statement. joining later with the details. >> we have the forecast from the ecb >> it is higher. do not expect that from the ecb. the rate policy could go and it surprised everyone. is that the ecb has more work to do. >> we have corporate news. >> keep a look on the luxury markets. it could go a little bit higher. shares and weo .5 see it down. it is more luxurious. it is dependent on europe. and it is in the wholesale market. you let's go to our international correspondent. gaining mobile may be state approval for a new license. that could mean assets and 8 million subscribers. the next month, the iphone is on sale. >> thank you so much. a center and a stamp of approval from regulators in china. general motors is rolling chevrolet. out andputting a note charges 700 million in to the european companies. it is focusing on this. we will have more on this car sector later today you have the s
Bloomberg
Dec 6, 2013 5:00pm EST
deduction for it. robust is a healthy and urbanization, but we did have a deficit. one of the challenges to address was to know longer have a deficit. it created an entity that would enable a structure that would enable one to receive money, and those who gave money to get tax deductions was key. so we got a new irs status, c3 charitable foundation, and we also received chi museum.s the nogu prior to that, the noguchi foundation which was the museum was a program of. >> how would you describe the work of noguchi to those are not familiar with this culture or art? york, mother was from new his father was japanese. he called himself a global artist at the time. it was before the motions of multiculturalism and biracial. he was born in 1904. he was extraordinarily prolific in that he worked in parks, landscapes. he was a precursor to all of the artists that went on to be known as earthwork artists. he did parks, playgrounds, theater curtains, theater sets. he had an association with martha graham for 50 years. many people do not realize the big stainless steel piece in rockefelle
Bloomberg
Dec 10, 2013 12:00pm EST
increasing the debt ceiling, these four suction to start dealing with our long-term debt and deficit. -- do not what i would say is we have the budget control act and if congressman ryan and senator murray cannot come up with some kind of good deal, i hope they at least has a clean continuing resolution. democratic senators voted for it and they should at least free that. i don't want to shut down the government. i don't think any republican does. >> bank of england governor mark carney spoke with charlie rose last night. i it's fair to say and hesitate to comment on other people's politics, but it is widely acknowledged here as well as in central banking circles that a series of decisions on the fiscal side, a series of steps and incentives, kicking the can down the road, but in the worst sense of the word because we have just gone through 2013, another disappointing year as i said in my speech today, with huge fiscal drag, almost two percentage points of gdp. that does not do anything to fix the longer-term fiscal problems, entitlement and others. you have a lot of the pain without any of
Bloomberg
Dec 4, 2013 7:00pm EST
the budget deficit it is really a long-term problem. the key thing you want to do right now is get the economy back on its feet and coming along. you are actually slowing that recovery down. i think it is just misguided policy. we do not expect that to last forever. we are also saying state and local government coming back a little bit more. that may offset the track we're going to get. >> you just mentioned that modesty oh moderate phrase. as you mentioned, the last four days books contain that wording. should we read anything into that? what does it say about the growth expectations going forward? >> we have seen the fed consistently lower their projections. they have been more realistic. anticipating that growth will pick up, the key issue for the fed, and particularly with a new fed chair coming in, janet yellen is going to be preoccupied in this guiding -- and deciding when to taper and how rapidly to taper. more important like, how to communicate detentions to the markets. landly, the asset purchase cannot go on forever. it has to begin to taper at some point. the fed is stil
Bloomberg
Dec 9, 2013 10:00am EST
to address that long-term deficit because it is rather painless in the immediate future. politicians, the future there will be nothing of significance that comes out of this deal. >> let's say they get a deal but lawmakers still push back. what does that say about what is happening in the sea -- in d.c.? >> if i was a good speller i would say it is his function. i don't spell very well. now the democrats -- and they need democratic votes to get this through the house -- the democrats are complaining federal workers having to pay their pensions. workers, someal of the republicans don't like the idea of replacing the sequester. they don't even like some of the user fees that are going to be imposed on airline passengers and customs. even the small stuff in today's climate draws a flag. do we need a clinton or christie in the white house? >> i'm not even sure the big c would do it right now. the parties are so divided. that is such polarization those in the middle get hit from both sides. we probably need to go through a crisis or two or an election travel or two before we get anything
Bloomberg
Dec 6, 2013 8:00am EST
purchases. we have a deficit that is following -- falling like a rock, and mortgage origination. the fed is not only a 500 pound gorilla in those markets, they are now the only gorilla in the jungle buying in those markets, and that is something they are concerned about as well. >> diane swonk, thank you for joining us. also, michael mckee, peter cook, and alix steel. we will be focused on this big drop we have seen in the jobless rate down to 7%. we will also get reactions to the jobs report from the ceo of pimco, mohamed el-erian, and the obama administration's reaction from labor secretary tom perez. ♪ >> well it seems like the whisper numbers were right. we got a huge surprise on the upside for jobs. to jobless rate went down 7%. i want to bring in someone who lives for jobs days. he loves these days because the data tells the story. tom keene is with us. you talk to bill gross. >> i want to make clear, this is a sport. just before the report i put out my last guess, and that was 200- 5000. >> who is bragging now? >> it is not my point, it is drew matus at ubs nailing the unemploym
Bloomberg
Dec 6, 2013 1:00am EST
news regarding the fiscal deficit is only cyclical. get us growth slowdown going forward, we might not see the fiscal contraction of the deficit that we really need. essentially our spending habit 's have not changed that much. we have been in austerity for so long, it was a shame that it was not more structural change. >> what does it mean for sterling capitol when you look at the top 10 currencies. this is against the other nine. can its strength continue. >> it depends on the bank of england. if it threatens the inflation target of two percent, we have target. inflation and this could force the hand because the strong pound could all of a sudden having a real problem of their policy. now, there is a real threat of that sum will push this into deflationary territory. is that real concern for the bank of england? >> it is not on their forecasts at the moment that we have seen such a huge appreciation of sterling already. at 164 level does look very sticky. it will take a little to push us up there. if we were to see a 500 moving. >> thank you. we will get her thoughts on the ecb.
Bloomberg
Dec 8, 2013 10:00pm EST
was the reason behind this is deficit and is it is inspected to continue? -- expected to continue? trade deficit was much larger than expected. that is the main cause for the current account balance deficit in october. the current account is not expected to continue in deficit. the weaker yen, that is pushing up energy costs. the trade deficit is expected to continue for the foreseeable future. even with the weaker yen, this'll push up export, but not enough to counter the effect of the higher cost of oil and gas. we are seeing an increase of consumer goods and the materials for housing and consumers to buy more. year, you willt see a lot more. that will push up the trade deficit even more. james in tokyo. thank you. program,g ahead on the the icing on the cake for the baking industry. more on that coming up later. and jpmorgan with a strong performance. when "asiaad to that edge" returns. ♪ .> breaking news an ipo is said to take place in everbright.r billionssaid to seek in hong kong dollars in shares sales. let's see what else is going on. positive news coming out of the u.s.
Bloomberg
Dec 9, 2013 2:00pm EST
a narrow trade deficit for the u.k.. more on the trade market in 30 minutes. ♪ >> this is "money moves," where we focus on innovative alternative investments. here are your bloomberg top headlines. we are following john paulson, making a comeback after a few years of wrongly invested, his investment fund is up 30% this year, according to people briefed on the returns. profitable positions on m&a are part of the strength. he is best known for making 15 billion dollars by betting against subprime in 2006 and 2007. the new american airlines has taken off, the merger between american and u.s. air officially closed today, creating the world's largest carrier. the new ceo says that flyer should not be worried about the changes. the employees, the airplanes, that is how this merger works. we need all of that. the networks are highly complementary. so, we put the networks together and we have everything we need. the supply is unchanged. if the supply is unchanged and demand remains constant, there should be no changes in price. rises in our business move a lot based on indiscriminate fac
Bloomberg
Dec 5, 2013 3:00pm EST
the deficit to gdp ratio. we do not have to swallow the pill again in 2014. we have reset government spending out lower levels. we did not have to do it all over again. makes for pretty easy comparison year-over-year when you compare 2014 to 2013. sex we are running less of a deficit. that is good news. what if you drill down and talk thet individuals? >> it is verge because of the wealth effect. rising. have been consumers are at the upper end of the spectrum and have been really getting the benefit of higher net worth. here is net worth as a percent of disposable income. we have seen very sharp improvement that is driving the spending we are seeing in the economy. >> in other words, the total net worth is 600% of what you make. if you make 100,000, you are worth 600,000? >> exactly. s&p is up. equities are up. general home price valuations are up. we have been covering a lot of the lost wealth. five years after the financial crisis, we have recovered a lot of the wealth. the dominant theme for spending in 2014. >> that is very good news. we have breaking news i want to share with y
Bloomberg
Dec 5, 2013 1:00am EST
understand. there could be a kind of 1% on gdp. these upgrades are critically and reduction of the deficit. he would reduce the deficit by 10%. the hope is he can do more on that. have a lot of married couples and free school meals for kids. of course, the tapering with energy -- what will the impact be? [laughter] >> we would not want you to be chilly. that was manus cranny live from westminster. we will bring you a speech -- osborne's speech live. >> the ecb will publish its decision following last month's surprise rate cut. focus will be on mario draghi. here witherro is details. >> it is hard to follow manus cranny. [laughter] let's talk about these forecast. a reason many people thought they would cut a rate this month and not last month. the rate cut would come with the company forecast. what we will get is something as bright as the u.k.'s forecast. they currently predict one percent growth for next year at inflation is at 1.3%. that is well below the 2% target. it is important. it might sound a long way off. we know that dally on swift guidance -- dalliance on guidance -- you might
Bloomberg
Dec 8, 2013 8:00pm EST
abenomics as of yet. >> what was the reason for the unexpected deficit here? are people saying this is likely to go on? >> the current account deficit was larger than expected -- it was expected to be quite small. the real reason was the weaker yen boosting the cost of energy imports and exports of cars and other products not keeping pace with that. japan's trade deficit is continuing. -- current-account deficit people are saying there is not going to be a permanent one but the trade deficit is going to continue for the foreseeable future. some economists have said the import ahead of the sales tax rise -- people are importing more housing materials and other products because people are expected to by those in the next five or six months. factor another temporary which is causing this deficit. >> thank you, james. down going to be breaking the latest economic data from china. ."ming up next on "on the move ♪ the scene at the moment at the imperial palace in tokyo. we had some weaker than expected growth. 1.9% up.economists say a weaker yen just above the 103 level helping exporter
Bloomberg
Dec 5, 2013 4:00am EST
this time, the forecast was that the budget deficit would be 60 billion pounds. it is 120 billion pounds. that was supposed to start coming down in 2015. it will not peak until two years later. the fact that the economy has not recovered as fast as projected has caused the budget deficit problem to become much worse than it would've been had the economy grow faster. you might say that was just bad luck. i think the slow recovery, almost lack of recovery for two years, was a result of the austerity policy. a recovery,we have does austerity make more sense? placet faith can we in the new forecast? we were supposed to grow two point four percent this year. it will be about 0.8%. >> they are revising the incomes around 1.5%. >> ok. things are improving. then you go forward to the next year in the year after. then you have to ask what are the drivers of a broad-based recovery going to be? i think that it is very narrow. prices, assets, and some parts of the country. >> the government has announced plans to spend more on infrastructure. do you welcome that? haveat's what it should been.
Bloomberg
Dec 9, 2013 6:00am EST
. washington, our chief washington correspondent. you want to talk about the deficit. this will not go away. are people actually concerned about high deductibles? >> you certainly have a lot of republicans who will talk about it. there talking about the problems with healthcare.gov and they are also talking about the way the rubber meets the road. the prices that they are paying for premiums that are out there and the deductibles are going up as well. this is another talking point for them. they have criticized the health care law. we will have several members on capitol hill and this is one of the questions they will have to answer. rollout, theo the website is operating better. they will make this point over and over. >> lawmakers actually have a deadline of their own to sign up for the affordable care act. how is that going? >> there is actually a different website. technically, they are members of a small business. that is the congress of the united states. they are operating off of the d.c. exchange. the deadline is december 23. december 9 is the deadline for members of congress unders
Search Results 0 to 13 of about 14